Bill Gates Among Investors Claims Green Steel Process Cheaper Than Fossil Fuel System
Great article about green steel manufacturing being the wave of the future and the process is less expensive, that’s crazy. When Uncle Bill Gates is involved you can expect great results.
In a recent article by Michael Holder14 October 2022• 3 min read
Amazon and Bill Gates-founded Breakthrough Energy Ventures among investors in firm, which claims its green steel process is also cheaper than conventional fossil fuelled systems
Green steelmaking innovator Electra has scooped up $85m backing from a raft of top investors including the Bill Gates-founded Breakthrough Energy Ventures, Amazon and BHP Ventures, to support the firm’s plans to further develop and scale its zero emissions technology.
The US firm claims its novel iron ore and steelmaking process emits zero CO2 emissions while also holding potential to cost the same or even less than existing methods powered by fossil fuels.
It claims it can electrochemically refine ore into pure iron at low temperatures of just 60C, enabling it to use renewable electricity to power the process, before then converting the iron into steel using existing infrastructure or electrically-powered arc furnaces.
